The fallout from two fatal crashes of Boeing 737 Max planes has ensnared the manufacturer's most-loyal customer: Southwest Airlines. The carrier has canceled thousands of...Airlinesread more
The Fed is expected to cut rates Wednesday, but it is unlikely to tell markets what they want to hear on future rate cuts.Market Insiderread more
Stocks rose slightly on Tuesday, but gains were capped as the Federal Reserve kicked off a two-day monetary policy meeting.US Marketsread more
Brent crude oil jumped the most in history in the previous session after attacks on Saudi's oil industry disrupted the kingdom's production.Marketsread more
Facebook has partnered with Ray-Ban maker Luxottica to develop augmented-reality glasses, people familiar with the matter told CNBC. The glasses, code-named 'Orion,' are being...Technologyread more
The Trump administration move on California's auto emissions standards would likely set up a fight between the White House and the state.Politicsread more
"I feel really confident that defense-minded CEOs, when they are on defense, they're going to come to" flexible offices and away from traditional leases, Knotel CEO Amol Sarva...Commercial Real Estateread more
Fanatics has hired Michener Chandlee, Nike's corporate audit and chief risk officer, to become its chief financial officer, succeeding Lauren Cooks Levitan, CNBC has learned.Retailread more
As Netflix's rivals prep for their own streaming service launches, and snatch up content belonging to their own networks, Netflix could soon face a dry well when it comes to...Entertainmentread more
"There's a huge reorganization going on in China regarding fentanyl to try to shut it down," Blackstone co-founder Stephen Schwarzman says.Health and Scienceread more
Pelosi also said it's "irrelevant" whether approving the USMCA trade deal would give President Donald Trump a victory ahead of the 2020 election.Politicsread more
U.S. producer prices unexpectedly rose in August and underlying producer prices rebounded, but that data will not change financial market expectations that the Federal Reserve will cut interest rates again next week to support a slowing economy.
The Labor Department said its producer price index for final demand edged up 0.1% last month as a jump in the cost of services offset the largest drop in the price of goods in seven months. That followed a 0.2% gain in July.
In the 12 months through August the PPI advanced 1.8% after increasing 1.7% in July. Economists polled by Reuters had forecast the PPI would be unchanged in August and rise 1.7% on a year-on-year basis.
Excluding the volatile food, energy and trade services components, producer prices jumped 0.4% last month after dipping 0.1% in July, the first decline since October 2015.
The so-called core PPI climbed 1.9% in the 12 months through August after increasing 1.7% in July.
The Fed, which has a 2% annual inflation target, tracks the core personal consumption expenditures (PCE) price index for monetary policy. The core PCE price index increased 1.6% on a year-on-year basis in July and has undershot its target this year.
Financial markets have fully priced in a rate cut at the U.S. central bank's Sept. 17-18 policy meeting against the backdrop of simmering trade tensions between the United States and China that have soured business confidence and tipped both U.S. and global manufacturing into recession.
U.S. tariffs on Chinese goods were this month broadened to include an array of consumer goods. There are fears the manufacturing downturn could spill over into the broader economy and derail the longest economic expansion in history, now in its 11th year. The economy is being supported by robust consumer spending via a strong labor market.
The Fed cut rates in July for the first time since 2008.
In August, wholesale energy prices fell 2.5% after rebounding 2.3% in the prior month. They were weighed down by a 6.6% drop in gasoline prices, which followed a 5.2% percent jump in July. Goods prices declined 0.5% last month, the most since January, after rising 0.4% in July.
Energy prices accounted for more than 80% of the drop in the cost of goods in August. Wholesale food prices fell 0.6% in August after gaining 0.2% in the prior month. Core goods prices were unchanged last month. They edged up 0.1% in July.
The cost of services increased 0.3% after decreasing 0.1% in July. Services were boosted by a 6.4% surge in the cost of guestroom accommodation, the largest gain since April 2009.
The cost of health-care services rose 0.2% after edging up 0.1% in July. Those healthcare costs feed into the core PCE price index.